Aldar Properties PJSC (ADX:ALDAR)
د.إ 5.74 0 (0%) Market Cap: 45.13 Bil Enterprise Value: 54.95 Bil PE Ratio: 10.34 PB Ratio: 1.39 GF Score: 74/100

Q1 2022 Aldar Properties Pjsc Earnings Call Transcript

Apr 28, 2022 / 11:00AM GMT
Release Date Price: د.إ5.65
Operator

Greetings. Welcome to Aldar's First Quarter 2022 Financial Results Conference Call. (Operator Instructions) Please note, this conference is being recorded.

At this time, I will now turn the conference over to Greg Fewer, CFO and Sustainability Officer. Mr. Fewer, you may now begin.

Greg Fewer
Aldar Properties PJSC - Group Chief Financial & Sustainability Officer

Thank you very much. Good afternoon, good morning, and welcome to the Aldar Q1 2022 earnings call. I'll go over a few prepared notes, and then we'll open up the floor to questions and answers right away.

With that, I'll give you an overview of Aldar's performance for the first quarter of 2022. We built upon the momentum in 2021, delivering another strong quarter marked by sustained levels of activity and expansion across our diversified business. Revenue for the quarter stood at AED 2.68 billion, up 32% year-on-year with gross profit increasing 44% year-on-year to reach AED 1.12 billion. Net profit was also up 26% year-on-year to reach AED 688 million.

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